More details emerge about scope of Apple smart watch project

Just as Apple has come under increased pressure from shareholders for more product innovation, more details are leaking out about a new device the company is said to be working on.

Following reports earlier this week that Apple is working on a smart watch that runs iOS, Bloomberg reports it has heard a few more details about the project. Apple has 100 people working on the device, according to sources who are not named. Those people include marketing, software and hardware people within the company.

Specifically, Bloomberg names James Foster, who is senior director of engineering, and Achim Pantfoerder, a program manager, as two people who are working on making a wearable device.

Bloomberg’s report tracks with what the New York Times and Wall Street Journal wrote earlier this week. Those stories referenced a “watch-like” device made of curved glass that would run iOS. But Bloomberg’s story reporting the size of the team indicates the project may be further along than simple “experimentations” as previously reported.

Apple’s stock has dropped in the last few months as shareholders have become worried that demand for the iPhone and and iPad may be slowing. But speculation is building that Apple is working on a wearable device, something that could be a companion or standalone device to interact with other Apple mobile products. Wearable computing is expected to be a $1.5 billion market by next year.